Bluerock Private Real Estate Fund Announces Monthly Distribution for September 2026

BPRE sets a $0.1371 September 2026 monthly distribution, citing higher yields and progress on a $700 million real estate rotation pipeline.

Rhea-AI Summary

Bluerock Private Real Estate Fund (BPRE) declared a September 2026 monthly cash distribution of $0.1371 per share, payable on September 30, 2026 to shareholders of record and ex-dividend as of September 16, 2026.

The payout reflects a 7.3% distribution rate on NAV, an annualized market distribution rate of approximately 13.8%, and an annualized tax-equivalent distribution rate of 21.5%, based on the September 3, 2026 closing price of $11.91. Since listing in December 2025, BPRE has announced four distribution increases as it rotates capital from legacy core+ institutional fund holdings into specialty direct real estate investments. The fund reports approximately $3.2 billion in net assets under management as of August 31, 2026 and has identified about $700 million in investments that are closed, under contract, or in its pipeline.

Positive

• Monthly distribution $0.1371 per share for September 2026, with a 7.3% distribution rate on NAV
• Annualized market distribution rate ~13.8% and tax-equivalent rate 21.5% based on $11.91 share price
• Four distribution increases announced since the fund’s December 2025 listing
• Net assets under management ~$3.2 billion as of August 31, 2026
• ~$700 million in investments closed, under contract, or in pipeline under the strategic roadmap
• Portfolio diversified across 25 private equity and 17 private debt real estate investments

Negative

• The fund states that some or all distributions may be return of capital, which reduces shareholders’ tax basis
• Disclosure that investing in the fund involves risk, including the potential to receive little or no return or to lose part or all of the investment

Market Context

BPRE’s August 5 distribution announcement was followed by a -4.63% 24-hour reaction, contrasting wit...

Analysis

BPRE’s August 5 distribution announcement was followed by a -4.63% 24-hour reaction, contrasting with positive reactions to several earlier comparable releases. The new distribution offered recurring income information; return-of-capital treatment remained important to tax outcomes.

Key Figures

Monthly distribution: $0.1371 per share Distribution rate on NAV: 7.3% Market distribution rate: approximately 13.8% +5 more

8 metrics

Monthly distribution $0.1371 per share September 2026

Distribution rate on NAV 7.3% September 2026 distribution

Market distribution rate approximately 13.8% Annualized, based on $11.91 closing price on September 3, 2026

Tax-equivalent distribution rate 21.5% Annualized September 2026 rate

Closing price $11.91 September 3, 2026

Identified investments $700 million Closed, under contract, or identified in the investment pipeline

Net assets under management approximately $3.2 billion As of August 31, 2026

Real estate investments 25 private equity and 17 private debt investments Current fund positions

Historical Context

5 past events · Latest: Aug 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 05	Monthly distribution	Positive	-4.6%	August distribution announcement preceded a -4.63% 24-hour price reaction
Jul 07	Monthly distribution	Positive	+0.9%	July distribution announcement preceded a 0.89% 24-hour price reaction
Jun 03	Distribution increase	Positive	+1.1%	June distribution increase announcement preceded a 1.07% 24-hour price reaction
Jun 03	Annual meeting notice	Neutral	+1.1%	Annual meeting date announcement preceded a 1.07% 24-hour price reaction
May 18	Distribution increase	Positive	+1.7%	June distribution increase announcement preceded a 1.67% 24-hour price reaction

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Comparable distribution announcements produced mixed reactions, including a -4.63% reaction in August and positive reactions in July, June, and May.

Key Terms

nav, tax-equivalent distribution rate, distribution reinvestment plan, return of capital, +1 more

5 terms

nav financial

"reflecting a 7.3% distribution rate on NAV"

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

View in glossary

tax-equivalent distribution rate financial

"an annualized tax-equivalent distribution rate of 21.5%"

A tax-equivalent distribution rate converts a distribution that is partially or fully tax-advantaged into the pretax yield an investor would need from a taxable investment to get the same after-tax cash. Investors use it to compare apples-to-apples between tax-free or tax-preferred payouts and ordinary taxable income, like translating prices in different currencies to see which is the better deal after taxes. This helps decide which holding delivers more real income once taxes are accounted for.

distribution reinvestment plan financial

"offer its shareholders a Distribution Reinvestment Plan (DRIP) program"

An automatic program that uses cash distributions—such as dividends or other payouts—from a stock or fund to buy additional shares of the same security instead of handing out cash to the investor. Think of it like using store credit you’d otherwise pocket to buy more items: it makes your holding grow over time without you having to manually reinvest, which can compound returns, reduce transaction costs and change the timing of taxable income.

return of capital financial

"Some or all of the Fund's distributions may be deemed to be a return of capital"

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

closed-end fund financial

"BPRE is the only New York Stock Exchange-listed closed-end fund"

A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Sept. 3, 2026 /PRNewswire/ -- Bluerock Private Real Estate Fund (ticker: BPRE) today announced it will pay a cash distribution of $0.1371 per share for September 2026. The distribution will be paid to shareholders of record as of September 16, 2026, reflecting a 7.3% distribution rate on NAV as well as an annualized market distribution rate of approximately 13.8% and an annualized tax-equivalent distribution rate of 21.5%¹, based on the BPRE closing price of $11.91 on September 3, 2026.

The distribution will be made on the schedule below:

Record Date	9/16/26
Ex-Dividend Date	9/16/26
Pay Date	9/30/26
Distribution	$0.1371

BPRE has announced four distribution increases since listing, reflecting management's commitment to raising distributions as it executes on its strategic roadmap to maximize shareholder value by rotating capital out of BPRE's legacy core+ institutional fund holdings into the specialty direct real estate investments it believes offer stronger income and total return potential. The Fund has made significant progress in its execution against the strategic roadmap, including the identification of $700 million² in investments that have been closed, are under contract, or have been identified in our investment pipeline.

Net assets under management for BPRE are approximately $3.2 billion as of August 31, 2026. The Fund currently maintains positions in 25 private equity and 17 private debt real estate investments, with underlying assets valued at approximately $250 billion (holdings are subject to change at any time and should not be considered investment advice).

BPRE is pleased to offer its shareholders a Distribution Reinvestment Plan (DRIP) program, providing a structured and convenient way for investors to automatically reinvest monthly cash distributions into additional shares, allowing for the potential of enhanced compounding and, in certain scenarios, the ability to acquire shares at favorable pricing, including potential purchases at a discount to Net Asset Value (NAV).

Some or all of the Fund's distributions may be deemed to be a return of capital. The Fund provides a notice of its best estimate of the sources of a distribution at the time of such distribution. Such notice and other detailed Fund information is available at bprefund.com.

Bluerock Private Real Estate Fund (ticker: BPRE) is the only New York Stock Exchange-listed closed-end fund offering investors dedicated access to private real estate. The Fund is the largest real estate-focused closed-end fund on the market and is designed to deliver strong, consistent tax-advantaged income while also pursuing attractive long-term capital appreciation. Following its December 2025 listing, BPRE has been executing on its strategic roadmap plan to maximize shareholder value by rotating capital into high-growth, specialty real estate sectors and consistently raising distributions, having announced four distribution increases since listing. Learn more about BPRE at bprefund.com.

¹ The market distribution rate is calculated by annualizing the distribution for the relevant month and dividing by the Fund's closing price on the NYSE for 9/3/2026. The tax-equivalent distribution rate is the rate a fully taxable investment needs in order to equal the after-tax rate on a comparable tax-advantaged investment. The example assumes 37% maximum federal income tax rate and includes the 3.8% Medicare surtax that is applied to the net investment income above certain thresholds. It also includes a 5% average state tax rate. Tax equivalent distribution rate is calculated based on a 67% ROC. 67% is the Fund average (2013-2025) return of capital ("ROC") and non-dividend distribution portion of distributions. ROC, for tax purposes, should be distinguished from an economic return of capital, where an investor is repaid out of its own contributions rather than from the economic profits of the investment. As a tax law concept, an ROC is not tied to an investment's financial performance. ROC distributions reduce the stockholder's tax basis in the year the dividend is received. The stockholder's tax basis may be reduced by ROC distributions in the year the distribution is received and generally defer taxes on that portion until the stockholder's stock is sold. Upon sale, the investor will calculate their gain by reference to the lower cost basis attributable to the ROC distributions, which gain may be subject to tax at capital gain rates.

² Represents investments that are closed, under contract, under LOI, under exclusive negotiations, or in pipeline.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements included herein may constitute "forward-looking" statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements with regard to future events or the future performance or operations of the Fund, including but not limited to, liquidity events. Words such as "intends," "will," "believes," "expects," and "may" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geo-political risks, risks associated with possible disruption to the Fund's operations or the economy generally due to hostilities, terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Fund's operating area, unexpected costs, the price at which the common shares may trade on a national securities exchange, and such other factors that are disclosed in the Fund's filings with the Securities and Exchange Commission (the "SEC"). The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, the Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

IMPORTANT INFORMATION ON RISK
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. Investors should carefully consider the investment objectives, risks, charges, and expenses of BPRE.

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SOURCE Bluerock Private Real Estate Fund

FAQ

What monthly distribution did Bluerock Private Real Estate Fund (BPRE) declare for September 2026?

Bluerock Private Real Estate Fund declared a cash distribution of $0.1371 per share for September 2026. The distribution will be paid on September 30, 2026 to shareholders of record as of September 16, 2026.

What are the key dates for the September 2026 BPRE distribution?

For the September 2026 distribution, the record date is September 16, 2026, the ex-dividend date is also September 16, 2026, and the pay date is September 30, 2026. The cash amount is $0.1371 per share.

What distribution rates does the September 2026 payout imply for BPRE?

The September 2026 distribution reflects a 7.3% distribution rate on NAV, an annualized market distribution rate of about 13.8%, and an annualized tax-equivalent distribution rate of 21.5%, based on BPRE’s $11.91 closing price on September 3, 2026.

How large is Bluerock Private Real Estate Fund (BPRE) and what is its investment pipeline?

BPRE reports approximately $3.2 billion in net assets under management as of August 31, 2026. The fund has identified about $700 million in specialty real estate investments that are closed, under contract, or in its pipeline as part of its strategic roadmap.

How many times has BPRE raised its distribution since listing?

Since its December 2025 listing, Bluerock Private Real Estate Fund has announced four distribution increases. The company links these increases to progress on its strategy of rotating capital into specialty direct real estate investments it believes offer stronger income and total return potential.

Does Bluerock Private Real Estate Fund (BPRE) offer a dividend reinvestment plan (DRIP)?

Yes. BPRE offers a Distribution Reinvestment Plan (DRIP) that allows shareholders to automatically reinvest monthly cash distributions into additional shares, potentially enhancing compounding and, in some scenarios, enabling purchases at a discount to Net Asset Value (NAV), as described by the fund.

Can BPRE distributions include return of capital and what does that mean for investors?

The fund states that some or all distributions may be return of capital (ROC). ROC reduces a stockholder’s tax basis in the year received, typically deferring taxes on that portion until the shares are sold, when gain is calculated using the reduced cost basis.